Peak oil theories wrong, says ExxonMobil boss

There is a theory that there is a process inside the earth that continually manufactures oil. When I was in school we were told that dead plants became oil and dead dinasuars became oil. Didn't believe it then. Don't believe it now. How does the oil get 15,000 feet down?

 

Because dinosaurs would dig way down in the ground and make a nest to die in.

 

Perhaps they were buried, say, in a world-wide flood ?

 

:thumbsup: :godisgood:

 

Or, since carbon and hydrogen are two of the most abundant elements in the universe, oil has little to do with dead dinosaurs.

 

It's actually only a couple of feet underneath the ground.

I know this because when Jed Clampett was a poor mountaineer, barely kept his family fed...
one day he was shootin at some food,
And up through the ground came a bubblin' crude.

Oil that is.





:tongue3:

 

ROFL:laugh: :laugh:

 

Yes, the peak oil idea is a bunch of hooey. In today's Oil Daily on page 2 there is a chart in article about the speech given by Abdullah Jumah, the chief executive of Saudi Aramco. It gives the following info:

Oil extracted so far: 1 trillion bbls.
Proven reserves at the moment: 1.2 trillion bbls.
Anticipated new discoveries during the next 25 years: 1 trillion bbls.
Additional oil extracted with improved methods: 1 trillion bbls.
Nonconventional oil: 1.5 trillion bbls.

Therefore, we have only extracted 18% of the oil that is available. And at the current rate of consumption this oil would last for another 140 years.

In 1960 proven reserves were only 670 billion bbls. Today proven reserves stand at 1.2 trillion bbls. We keep finding more oil than we are consuming on this earth.

As usual the "Chicken Little" crowd is wrong.

 

A good one. :laugh: :laugh: :laugh: :laugh:

 

If true, then those who sold short are going to lose their bet.

 

http://www.cumberlandhouse.com/wndbooks/books/blackgold.asp

Black Gold Stranglehold...
Good book addressing this very question... And it makes far more sense than decomposing oily dino's.

 

I'm not sure Abdullah Jumah, a Saudi oil company chief and major player in OPEC, who stands to lose a major amount of money if alternative sources of energy are developed, would be the most trustworthy source on this particular subject. I think Abdullah's information is a bunch of hooey.

Here's the place where the facts can be found:

http://www.richardheinberg.com/

 

KenH: //Therefore, we have only extracted 18% of the oil that is available. And at the current rate of consumption this oil would last for another 140 years.
...
KenH: //As usual the "Chicken Little" crowd is wrong.//

The 'chicken little' crowd is NOT wrong, they just have
a longer viewpoint than the 'cheap oil' faction.

Someday the oil is going to run out.
I think it is stupid to drive an SUV when an
HPV (human powered vehicle) will do.
My town Norman, Okla, has more bicycle routes than
most towns, but you can't go where you want to go.
Most the routes end at the campus of the University
of Oklahoma (OU), so frequencty you can go to OU
then go close to where you need to be.

 

I think I'm going to borrow this in the over-population thread.

 

You have your "facts" and I have my "facts". Maybe we can check back in 50 years and see if either of us had the correct "facts". :smilewinkgrin:

 

If the oil runs out 200 years from now is that really a relevant piece of information for today? I think not. :smilewinkgrin:

 

Does that include American shale? As petroleum does eventually decrease the cost of retrieval should equalize as extraction becomes easier. Along those same lines, surely cold fusion will come to fruition.

No need to be 'chicken littles' and look for the end of the world as we know it. Simply look for His return and put Him first.

 

I predict in 2206 people will burn our bones for transportation :BangHead: